Thank you, Mr. Chair, I'll focus my initial questions on the Canadian Chemical Producers' Association.
Richard, if I understood you correctly, it seems that the downsizing that's occurring in what is happening in your industry is not just a cyclical thing, but seems to be a structural downsizing as well. You didn't commit on whether you thought this was just a normal thing or was because of greater efficiencies or less demand for your products.
I'd like to get a sense from you as to whether you think this is something that's going to be permanent. Or do you think better days will be ahead eventually in the long term?